Devon Energy (NYSE:DVN) Price Target Lowered to $41.00 at Susquehanna

Devon Energy (NYSE:DVN - Free Report) had its target price trimmed by Susquehanna from $52.00 to $41.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the energy company's stock.

Other research analysts have also issued research reports about the company. Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. UBS Group lowered their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Raymond James decreased their target price on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Finally, StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $44.83.

Devon Energy Stock Down 0.3 %

DVN traded down $0.10 during trading on Tuesday, reaching $31.37. The stock had a trading volume of 5,180,719 shares, compared to its average volume of 8,524,603. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 1.20 and a beta of 1.50. The stock's 50 day moving average is $33.56 and its two-hundred day moving average is $35.41. Devon Energy has a one year low of $25.89 and a one year high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, analysts expect that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.06%. Devon Energy's payout ratio is 21.05%.

Institutional Investors Weigh In On Devon Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DVN. Mather Group LLC. grew its position in shares of Devon Energy by 193.1% during the first quarter. Mather Group LLC. now owns 4,781 shares of the energy company's stock worth $179,000 after purchasing an additional 3,150 shares in the last quarter. Valley National Advisers Inc. boosted its stake in Devon Energy by 3.7% in the 1st quarter. Valley National Advisers Inc. now owns 47,762 shares of the energy company's stock worth $1,786,000 after purchasing an additional 1,719 shares during the period. IRON Financial LLC purchased a new stake in Devon Energy during the 1st quarter valued at approximately $231,000. Amalgamated Bank raised its position in shares of Devon Energy by 1.5% during the first quarter. Amalgamated Bank now owns 125,294 shares of the energy company's stock valued at $4,686,000 after buying an additional 1,857 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its holdings in shares of Devon Energy by 17.4% in the first quarter. Essex Financial Services Inc. now owns 24,995 shares of the energy company's stock worth $935,000 after buying an additional 3,704 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.